Income Protection for Police

Income Protection for Police

Why Should Police Officers Opt for Income Protection Plans?Income protection for police ensures that professionals who risk their lives on a regular basis to help people out do not have to suffer financially when they are injured or ill. These insurance protection plans offer financial security to police officers and their families during tough times.

How Much Compensation Can a Police Officer Get?
Most of the insurers in Australia offer monthly compensation payments to police officers and these compensation payments can total up to 75% of the officer’s annual pre tax salary amount. If the officer receives superannuation benefits or certain other perks as part of his salary package then the selected insurer may offer up to an additional 8% compensation.

Which Police Should Police Officers Purchase and Why?
Police officers who want maximum compensation and benefits should consider opting for a policy that offers a higher compensation amount along with other perks such as compensation to the spouse if the spouse has to take leave in order to take care of the police officer when he is confined to the bed.

Agreed value contracts for officers ensure that the policy holder receives a fixed guaranteed amount every month where as the cheaper contracts do not guarantee that the officer will receive a fixed amount.

Additional benefits that are generally offered along with good policies include specific injuries benefits, rehabilitation benefits, rehabilitation expenses, home care benefit and a death benefit. The benefits mentioned above will be provided to the policy holder when he files a successful income protection for police claim.

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Income protection is a crucial part of any comprehensive financial plan. If you’d like some help customising the correct policy for you, or want to know more about the income protection insurance benefits.